Berkeley Capital Partners LLC Buys New Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Berkeley Capital Partners LLC purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,886 shares of the semiconductor company’s stock, valued at approximately $208,000.

A number of other institutional investors have also recently bought and sold shares of MRVL. State Street Corp lifted its stake in shares of Marvell Technology by 0.3% during the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after buying an additional 68,893 shares during the last quarter. Geode Capital Management LLC lifted its position in Marvell Technology by 2.0% during the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock worth $818,916,000 after acquiring an additional 219,692 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Marvell Technology by 4.3% during the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock worth $627,034,000 after acquiring an additional 359,005 shares during the period. Nordea Investment Management AB grew its position in shares of Marvell Technology by 14.0% in the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after purchasing an additional 571,005 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Marvell Technology by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,427,745 shares of the semiconductor company’s stock worth $378,594,000 after purchasing an additional 165,858 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

MRVL has been the subject of several recent research reports. Barclays reduced their price target on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Evercore ISI boosted their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. KeyCorp dropped their price objective on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Finally, Cantor Fitzgerald increased their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $120.44.

Insider Activity at Marvell Technology

In related news, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the sale, the chief accounting officer now directly owns 31,100 shares in the company, valued at $2,138,125. This represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $412,980.00. Following the transaction, the chief operating officer now directly owns 81,931 shares in the company, valued at $5,639,310.73. The trade was a 6.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,685 shares of company stock worth $4,026,768 in the last quarter. 0.33% of the stock is owned by insiders.

Marvell Technology Price Performance

Marvell Technology stock opened at $70.49 on Friday. The company has a market capitalization of $61.05 billion, a PE ratio of -41.46, a P/E/G ratio of 1.61 and a beta of 1.42. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average price of $99.94 and a two-hundred day moving average price of $93.56. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48.

About Marvell Technology

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.